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| Small and Diverse Business Spending | $500 million |
|---|---|
| Minority-owned | Not Reported |
| Woman-owned | Not Reported |
| Veteran-owned | Not Reported |
| LGBT+ -owned | Not Reported |
| Disabled Person-owned | Not Reported |
Over $150,000 in scholarships toward the training of diverse businesses leaders
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Pfizer has a supplier diversity program which it has utilized for years to create opportunities for previously disadvantaged business groups. The program is administered by the company’s Global Procurement office. Pfizer spends over $500 million annually with more than 2,500 diverse suppliers.
Pfizer supports various development programs that focus on training and mentoring diverse business owners. Among them are the Tucks Minority Business Education Program at Dartmouth and the ISM Supplier Diversity Pharmaceutical Forum—Mentorship Program. A full list of these programs aimed at giving diverse suppliers a fighting chance can be found on Pfizer’s supplier diversity portal. The company often gives scholarships to these programs.
To build their program, Pfizer participates in a number of external activities like trade events, which provide opportunities to connect buyers with diverse suppliers. Various diversity groups have recognized Pfizer for its efforts to help level the playing field for diverse suppliers.
There is room for further growth. Pfizer’s report on the company’s supplier diversity program does not detail any plans to grow its annual spend with diverse suppliers. The company has been in the spotlight for its successful development of a Covid-19 vaccine, but we found no information on whether the company has implemented any programs to help small and diverse businesses hit hard by the Covid-19 pandemic.
We celebrate the array of unique qualities, perspectives, and life experiences, which define us as individuals. And this includes our visible differences such as gender, age, ethnicity, or physical appearance, as well as other characteristics including work styles, sexual orientation, religious, or national identity and education.
These traits combine to create a vibrant community and supportive culture that allows our people, regardless of where they work in the world, to feel valued, involved, supported and respected. And while we celebrate the differences that create the mosaic culture of Pfizer, it is diversity of thought that we value most.
We believe these same principles apply to the supplier base that supports our business. As such, we are committed to building and sustaining relationships with minority- and women-owned businesses.
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